Journal of a Novice-Level Speculator

No trade today. I was just sending out resumes and preparing for an interview this coming Wednesday.

My position has gone down quite a bit after I added my trade last night, but I have no regret. I know this is what I need to do to make things work in the long run.


PA
 
What was in your mind before you added, and what was in your mind after you added and the position got hurt? Seems to me like you need to work on your defensive game.....Just saying:)
 
Quote from nokomisjeff:

What was in your mind before you added, and what was in your mind after you added and the position got hurt? Seems to me like you need to work on your defensive game.....Just saying:)
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Jeff, before I added, I was thinking USD/JPY should have collapsed by now, and since it is not collapsing, I'll add in this mist of uncertainty. After my position got hurt, I am now thinking that I should have added later. The good thing is that each time I add, the trade size is smaller in this pyramid technique.

You may be right. I may need to work on my defensive game. I also need to figure out if I am pyramiding in the right way or in the right market regime.


PA
 
Cut my lost on the USD/JPY trade. I might as well enter again at a better position that allow me to pyramid. If I don't get out now, I won't be able to pyramid when opportunity comes. (because I don't add to losing a position)

Lost about $10, which is leaving me with a balance of $1023 for now.

I am gonna get my mind off USD/JPY for now to clear off any bias that I have.

PA
 
No trade today. I am thinking that I should just wait until March break is over.

A friend of mine who is highly risk averse just told me that he bought a lot of USD. It really surprised me because he is so risk averse that his only investment vehicle that he ever had was his saving account.

Now this leave me wondering what the general public thinks about the USD.


PA
 
I would be looking to enter with FXY puts with jan 2011 exp. , maybe a 100 strike. Gives a time cushion .

But Natural Gas..not the companies as much as UNG and the like. This appears to me to be a decent point to consider a long if only for a technical bounce..maybe base to form as we move into Spring .
This is a speculation journal is it not ??
 
Quote from independenceair:

...This is a speculation journal is it not ??
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Yes, it is, and I appreciate your posting.

I don't know much about NG, but I would like to learn it, and get some opinions on it.


PA
 
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